By VANESSA HO, SEATTLEPI.COM STAFF

Published 10:00 pm, Monday, March 1, 2010

Hours after Seattle Mayor Mike McGinn placed his seawall bill before the City Council Tuesday morning, council President Richard Conlin said it was a no-go.

"I think we can safely say it will not be on the May ballot," Conlin said.

McGinn has asked the council to place a measure on the May 18 ballot, asking voters to approve a $243-million, 30-year bond measure to design and build the deteriorating Alaskan Way seawall.

"The failure of the seawall wond disrupt public transportation and utilities, damage regional commerce and potentially lead to loss of life," McGinn wrote Conlin in a letter.

At a news conference, McGinn told reporters that the design and construction of the seawall -- built between 1916 and 1930 - didn't take into account seismic events, and that there is a one in 10 chance the wall will fail in the next 10 years.

"The reason we're proposing this is because we know the seawall is unsafe. It was never designed to withstand an earthquake," he said.

But Conlin said the council needs a more complete financing package from McGinn in order to consider the issue.

"We're still waiting for answers on what is the overall package of work and funding around the viaduct and tunnel," Conlin said. "What is the bigger package we'll be asking voters for?"

The state has allocated $2.8 billion for the Alaskan Way Viaduct replacement. State, King County, and Seattle officials have signed off on a $4.2 billion tunnel, a project of which McGinn has not been a fan.

In response to council concerns that the mayor might be using the seawall levy as a way to impede the tunnel project, McGinn told reporters: "I keep telling them that sometimes a seawall is just a seawall."

He said the tax levy would provide a stable source of funding, which he said was critical during a time of severe government budget constraints. He also said the measure would address an anticipated funding gap for the seawall of nearly $10 million in 2011.

If placed on the ballot and approved by 60 percent of voters, the measure will cost an owner of a $400,000 home about $50 a year.